As mentioned before, I am ex financial planner who had no prior experience in doing online business. You can say I literally took a leap of faith venturing into something new that was beyond my comfort zone (till now, it still is). One of the things that I had to learn was how to do paid advertising, which is a very important aspect of running and scaling up an online business.
Personally, I learn a lot of applicable knowledge from a lot of Facebook gurus on this particular topic everyday. However, I still find the Facebook Advertising Mastery training platform is still the best. I am always on a lookout to discover new ways of driving traffic and I would like to share some of my learning with you.
First of all, let me share with you the most common and costly mistake that most people make when they dive into paid advertising. People pay no attention to testing and measuring. It’s like the picture of the monkey as shown above, people just throw darts everywhere.
I have come across many business owners who spend a lot of money on old school marketing such as advertisements in radio, newspapers, magazines etc. The good thing is this, when I showed them how to advertise using internet, they got really excited. Why? The reason is because, they finally learnt that it is possible to display an advert to targeted audience and only pay when someone clicks on the ad.
In their mind, these business owners really believed they have just cracked the code in paid advertising and as a result, they were more than willing to swipe their credit card and get started with this. They were convinced that from now on, their business will grow exponentially. I can honestly share with you, these people will not see any positive results in their business even after 1 or 2 months later. I will share the reasons why…
Discover The Helpful Lessons For Paid Advertising
Testing And Measuring
For paid advertising to work effectively, you must understand some variables that work whilst others do not work. Remember, you are investing your own money into this. Hence it is very crucial to know the variables. That way, you can focus more on what works.
Here are the key elements which I would suggest you to pay more attention on in the paid advertising methods:
- CTR (click through rate) – it will tell you how good your heading and copy are
- CPC (cost per click) – CPC will go down if you learn to discover various niches.
- CPL (cost per lead) – Identify and record best sources for cheap and quality leads
- CPC (cost per customer) – Now you see if you have any profit left.
Learn The Behaviour of A Lead
- Good Content Marketing Quality – Lead From SEO Method
This is where you will (most likely) have leads who knows what he wants and he goes to a website browser and type specific keywords in the search engine for content. For instance, let’s say someone who wants to learn more about the different type of traffic that he can use for business, he can type keywords such online traffic to look for content.
- Solo ads leads
Another trendy method of paid advertising is solo ads. I personally have used this method before but did not get any good results. I would share with you some of my insights on this.
The hardest issue of using solo ads is to get hold of the right source provider. There are many solo ads provider who will promise you heaven and earth but don’t deliver results. Always bear in mind, good things are not cheap, cheap things are not good. So don’t get scammed by these people! Watch the video below to learn more about it.
You will be wondering, how would I define a ‘RIGHT’ solo ads provider?
Well, a ‘RIGHT’ provider would be someone who has the relevant subscribers. For instance, if your business deals with healthy vegan eating, you would want your solo ads to go to subscribers who have passion in this area, not something else such as online marketing. Watch the video of my good friend, Matt Lloyd, who will explain more on this:
- Facebook Ads
Surveys have been done by Merchant Circle, showing about:
- 22% of small businesses have already used Facebook ads
- Over 30% said they wouldn’t run another campaign
- nearly 70% of the the business owners said that it didn’t produce results to help to acquire new customers.
So what does this mean to you and me?
The answer is very simple, learn and master the game of Facebook Ads.
Here are the steps which you can use:
- Be clear of your goals.
- Plan ahead
- Advertising is about getting creative with targeting your customers
- Select pictures that are attention grabbing
- Test multiple ads
- Embrace the role of a scientist- ALWAYS test and measure
Be A Smart Advertiser – Keep A Journal
To make good sound decisions in paid advertising, I would strongly encourage you to keep a journal. Track these things down in your journal:
- People who open your email and clicks your links
- what subject lines get people to open
- see what get people to click
- record best copies that persuades people to buy
- best pictures that get people to click
- best sources that bring the cheapest leads.
You want to know what really works. Then, you can improve from there.
Hope you find these tips useful!
To Your Online Success,